Update: H.B. Fuller Board Turns Down Ancora's Bid for Building Adhesives Unit

MT newswire2026/08/24 13:30

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09:30 AM EDT, 08/24/2026 (MT Newswires) -- (Updates with Ancora's response to a request for comment in the last paragraph.) H.B. Fuller's (FUL) board has rejected Ancora's bid to acquire its building adhesives unit for up to $1.2 billion, the company said Monday. The board concluded Ancora's bid undervalued the unit and failed to take into account its potential to be a significant driver of earnings in the future, H.B. Fuller said. The offer also didn't consider the segment's importance to the company's overall adhesives business and lacked pertinent information to make it actionable, H.B. Fuller added. "By irrationally rejecting an offer without any engagement, Ms. Mastin and her value-destructive staggered board have reinforced their proclivity for entrenchment," Ancora Alternatives President Jim Chadwick said in a statement. "Anybody with a pulse can infer from Ancora's offer letter that the firm can self-finance, increase its offer and move quickly to address the company's leverage crisis."

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